Constitutional Convention Sparks Debate

Every 20 years the issue of a constitutional convention appears on the ballot here in our state. What the convention calls for is the opening of the state constitution for debate and alteration vis a vis the general public rather than the general assembly.

This years convention has put two big titans head to head in a battle of epic proportions, on one side we have the liberal pro-choice pro-gay marriage pro women's reproductive rights while on the conservative side we have the pro-life, pro-marriage, pro conservative values. These amount to two groups facing off, the churches who are in favor of the constitutional convention, and the liberal factions within Connecticut who oppose it.

Of those who oppose the constitutional convention, do so by way of reasoning that special interests will use their public authority to modify the state constitution for their own politically motivated reasons. Most people at the moment cannot even describe what the convention is or entails, but of those who do know, like Attorney General Richard Blumenthal, oppose it.

Ultimately it is up to us to decide if we wish for the general public to exercise their rights to modify the the state Constitution but thus far the opposing factions are mostly the churches and the social liberals in our state.

The first bout of this battle will take place this Sunday where several church groups have banded together to support the definition of marriage to remain between a man and a woman. The issue is currently before the supreme court and religious conservatives fear that our state judges will legislate rather than follow the rule of law of which has already been established in the state.

Opponents of a constitutional convention have posted THIS BLOG. Supporters of a Constitutional convention can be heard by clicking HERE or for a public site click HERE.

Chris Dodd Offers An Alternative Solution To Banking Crisis

Chairman Christopher Dodd of the Senate Banking Committee offered an alternative Monday to the financial rescue plan of the administration of President George W. Bush aimed at giving the U.S. Treasury an equity stake when it helps companies burdened by debt.

Dodd, a Connecticut Democrat, was circulating a draft of his bill as Congress sought to deal with a financial crisis that has been called the worst for the United States since the Great Depression.

The Bush administration is proposing a $700 billion plan to buy devalued assets from investment firms to keep the financial system from coming to a halt.

Democrats have pledged to act quickly on the measure, even as they seek to create an oversight structure, limit the compensation of executives at the companies benefiting from the rescue and provide mortgage relief for struggling borrowers.

"We cannot just turn over $700 billion in taxpayer money and not insist that that taxpayer is going to be protected in this," Dodd told reporters Sunday.

"We need this to be clean and quick, and we need to get it in place," Paulson said Sunday in an interview with ABC News.

The legislation would require Treasury to take an equity stake equal to the purchase price of the assets being bought. If the company is not publicly traded, the government would take senior debt instead, placing it in the front of the line of debt holders for repayment in the event of a bankruptcy.

Dodd's proposal also would create a five-member oversight board to supervise the Treasury secretary's purchase and sale of distressed mortgage debt.

It would consist of the chairmen of the Federal Reserve, Federal Deposit Insurance Corp. and the Securities and Exchange Commission as well as two members from the financial industry designated by congressional leaders.

The board would be authorized to set up a so-called credit review company consisting of Treasury employees to study the soundness of the purchases. Under the plan, the government would be required to obtain an equity stake equal to the value of the debt that is purchased from the companies, including those whose shares are not publicly traded. The Treasury secretary would also be required to issue weekly public reports on the amount of assets bought and sold by the U.S.

Dodd is proposing to penalize executives who take "inappropriate or excessive" risks. The executive compensation and severance packages could be reduced if that is "in the public interest," the proposal says. It would also force executives to give back profits they earned that were based on company accounting measures that are later found to be inaccurate.

The Republican presidential candidate, Senator John McCain, who has supported giving shareholders a bigger say in executive compensation in the past, said Monday that taxpayers should not pay for "golden parachutes" for officers of companies that have crumbled in upheaval on Wall Street.

"The senior executives of any firm that is bailed out by Treasury should not be making more than the highest paid government official," McCain said at a campaign event in Scranton, Pennsylvania.

The president is the highest paid federal official, with a salary of $400,000 a year.

(This Story Is a NYT Reprint)

Milford Irish Festival A Huge Success

The 2008 Irish festival was a huge success several thousand people attended from all over the state and there was plenty to do when they got there.

This years Irish festival held at the pavilion behind the town library boasted a very inexpensive $9.00 admission, but unlike Oktoberfest food and beverages were non inclusive of the admission fee. There were many vendors from different parts of the state each offering their own Irish flare. This was either green hats, shamrocks, music and costume entertainment, beer, or imported novelties.

The Irish festival was the third one thus far since the tradition stated in 2005 by the Irish Preservation Society. Proceeds from this event are used for several charitable events and to fund the operations of the group. This years festival was said to be much larger than last years and the leaders behind the organizing of it are looking forward to its continued growth into 2009.

This event will also be on Milford Government Access Television as the local cameraman was there to film the event. Anyone who is interested in exactly what goes on there but was unable to attend can tune into our local television channel and get a glimpse of all the action.

Paulson & Bernake Hand Out Billions, Congress Told To Sit Down And Shut Up.

This sounds Eerily familiar, this was the line that Congress gave to moveon.org last year when they voiced concern over the war in Iraq. It would appear that Congress is getting a taste of its own medicine, as two of Americas most powerful Titans hand out yet again more billions to their corporate buddies. First there was the Bear Sterns Bailout, next the Fannie and Freddie Mac Bailout, and Now the AIG Bailout.

The taxpayers have guaranteed these executives not only a "golden parachute" as they received millions in executive bonuses for failure, but most have also evaded criminal charges and investigations. Disgracefully our leaders just rewarded crooks with counterfeit and/or taxpayer money.

This staggering multi company bailout could cost into the trillions, no one knows for sure and will not know the massive cost for years to come. These two men effectively are now engaged in full scale plunder of the U.S. Treasury and and all its associated accounts including the FDIC Insurance that insures the money in your bank account.

How two men that no one voted for were allowed to plunder every American citizen in favor of the global corporate elite is not only unconstitutional but a public disgrace, and mocks the freedom and democracy that we are told exists here in America.

Ultimately we all a pay price, and Congress knows this, but unfortunately what two men decided in 24 Hrs. Congress could not decide in six months. Ron Paul warned us of the propensity of these kinds of malevolent actions and some six months from today we can expect a magnification and localization of these massive problems. In other words expect your personal bailout of these companies to occur through inflation. Every Time you buy Milk, Gas, Food, or the basics of life notice the rapid inflationary increases, also notice everything you own (your home, your cars, your stocks) to be worth less as no one will be able to invest.

What you will not see on future 2009 receipts is the line next to the state sales tax that says "AIG & Friends Bailout inflation tax 50% of total bill." Put into perspective, and truly bringing home your share of the impending national economic disaster the numbers just make a mockery out of our perception of reality. But your personal share of all combined Federal Debt has just increased from $350,000 per Person to an Est. $450,000 to $500,000 per person overnight.

David Walker a former U.S. Accountant and head of the Government Accountability office indicated that we have hard choices ahead of us, but what he failed to mention is that Congress has exposed itself as arbitrary and powerless over the actions of the U.S. Treasury and Federal Reserve who just essentially pushed America to total and complete bankruptcy. They did this without approval from Congress or a vote from the American people. They just told our elected leaders to "sit down and shut up" as they stealthily wrote massive checks out of your bank account to their friends.

Many of the companies involved in this federal Ponzi scheme are in fact the very banks and corporations who own the Federal Reserve. This is one major reason why the FED steps in to help their owners avoid prosecution and provide them with taxpayer money to clean up their mess by absorbing these criminals into the basement of other Federal Reserve Companies. For those not in the know the Federal Reserve is no more Federal than Federal Express and they just demonstrated this week that they have more power than Congress.

This is something to sleep on as continuing to live a local illusion that "because things are under control in our yard that there is no cause for alarm." I believe that in given time there will be a mass rude awakening in America. The time for countless millions to come forth is now not after being sobered by the fact that we gave some of the greediest and most evil people on the planet control over our lives. This did not work in Germany back in 1938 and will not work in America.

Thirsty For Cash Aquarion Raises Rates

The Aquarion Water company has recently won approval from the DPUC to raise water rates another 2.6%. Most of us rarely complain about the price of water as it appears to be the cheapest of all utilities.

Could it be possible that these increases could change all of that? Most of us do not realize what it is that the water company does, but to those who do they will realize that their job is to maintain the sanctity of our reservoirs and maintain the dams and floodgates that keep them safe.

These increases will net about 3 million for the water company, money their executives say is badly needed to maintain infrastructure in the wake of all else going up.

The water company also uses those funds to sanitize our water by adding chlorine that dissipates with aeration, and also medicates our water with the neuro-toxic poisonous chemical Fluoride that we drink in the name of tooth health.

To any people out there with young infants, it is not safe to have babies injest any flouride and should consult with a phisician before giving them water from the tap. For more information on the dangers of fluoride consult the side label of your toothpaste container or visit www.fluoridealert.org.

Market Turmoil Hits Home

The last three days have resulted in stock market losses not seen since September 11Th 2001. With nearly a 11% drop in the Dow Jones in just 72hrs. IRAs, 401ks and just about every Milford stock portfolio felt the shock.

There were lots of people today staring at the markets in complete despair as they assessed their personal losses yet again. This all at a time when everything from energy prices, to property taxes and food costs are on the rise. Making matters worse Milford is now under a credit crunch with 350 active foreclosures on homes whose value have been either stagnant or in danger of a further decline.

The global and American economic situation is dire, and is now hitting home and sobering even the most optimistic people in our town. Finding a safe haven for retirement funds is becoming increasingly difficult as America's once largest banking institutions like Merryl Lynch, AIG, Freddie Mac, Fannie Mae, and Lehman Brothers continue to show signs of distress and failure.

No one knows for certain if we have seen the worst of this economic crisis, but few have even prepared for the potential for negative events that accompany a severe economic situation. A recession is defined as two quarters of back to back negative growth, but what do we call Five or Six or maybe even Ten. Just 18 months ago the Dow Jones was at 12,500 and now it would appear possible that the index could breach the 10,000 mark making our economic misfortune in the coming months potentially worse then the height of the terrorist acts of 9/11.

On Wall street the blame game is in full swing, fear is high, our federal leaders are worried about contagion and a panic that could spread to every sector that is still in somewhat good condition. This is rapidly becoming clear that our brokers and portfolio managers are out of control and are unable to reasonably guarantee the safety and sanctity of any investment that bears even the slightest risk.

The economic climate in town is one of loss, uncertainty, and worst of all a feeling of helplessness in what to do next. Some a while back called for the purchase of Gold others have gone more ominous and advocated for the purchase of food as you cannot eat Gold. It would appear at the moment that all investors are in a bind and are facing some very hard choices.

Octoberfest 2008 A Fun Milford Tradition

Last Saturday night I had the honor and privilege of attending the October Fest Celebration at Walnut Beach. The event was held at the Rotary Pavilion and was hosted and organized by the Devon Rotary club here in town.

The event boasted a smorgasbord of great all you can eat food, lots of dancing and German culture and of course a little beer for those who who wished to keep the true custom alive. When I invited a few friends of mine to this event, those not in the know really thought it would be more like a beer drinking madhouse, more for adults and balked at the $40.00 per person cost.

Unswayed I decided to join up with some friends there and debunked the idea that this was some kind of adults only celebration, actually it was quite to the contrary. The event was very much like a musical wedding celebration with kids and adults dancing and joined together at tables with their families and friends.

There was lots of choice of tasty quality food, and anyone who came hungry and wished to have some soda and beer certainly got their money's worth. My friend Lou who had not been to an event like this before said he had "a really good time." Both of us intend on spreading the word, and attending again next year as we were both surprised at how many friends and neighbors we met there.

The Devon Rotary is a wonderful philanthropic organization with such notable members and community friends like Gayle Slossberg. They also have a reputation of caring for Milford, and uses these types of fundraisers to advance our community by improving public spaces. In summary this is a win win celebration and it is worth supporting.

An investment in the Devon Rotary Club is an investment in Milford and I thank all Rotarians, and those who attended, for their dedication and commitment to our town.